Beijing (CNS) – Housing prices in 49 cities decreased in November compared to last month's levels; 16 cities maintained the same level, and in only 5 cities did prices actually go up, reports China's National Bureau of Statistics.
Among the 70 major cities scrutinized, Guiyang, the capital of Southwest China's Guizhou province, led the upward trend in November but with no more than a 0.2 percent increase.
In the resale market, 51 cities marked a drop in prices in November, while 12 cities stayed at the same level as October. But buyers in 13 cities welcomed lower prices than last month for previously owned homes.
The sagging of housing prices in most of China's major cities is a trend that prospective buyers seem to expect will continue, and they expect deep savings as well in this critical market.
